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5 things to watch on the ASX 200 on Monday

James Mickleboro
Broker trading shares relaxing looking at screen

On Friday the S&P/ASX 200 index finished the week on a positive note with a 0.8% gain to 6,700.3 points.

Will the market be able to build on this on Monday? Here are five things to watch:

ASX expected to open lower.         

The Australian share market looks set to open lower following a subdued end to the week on Wall Street. According to the latest SPI futures, the ASX 200 index is poised to open the day 0.4% or 26 points lower this morning. On Wall Street on Friday the Dow Jones fell 0.25%, the S&P 500 dropped 0.6%, and the Nasdaq tumbled 0.75%.

Oil prices higher.

Australian energy producers Beach Energy Ltd (ASX: BPT) and Oil Search Limited (ASX: OSH) could start the week with a push higher after oil prices rose on Friday. According to Bloomberg, the WTI crude oil price climbed 0.6% to US$55.63 a barrel and the Brent crude oil price increased 0.9% to US$62.47 a barrel. Prices pushed higher after Iran seized a British oil tanker.

Tech shares on watch.

The likes of Altium Limited (ASX: ALU) and WiseTech Global Ltd (ASX: WTC) could come under pressure on Monday after their U.S. tech peers sank lower at the end of the week. The local tech sector has a tendency to follow the lead of the Nasdaq index, which finished the week with a decline of 0.75%.

Gold price pulls back.

Gold miners such as Newcrest Mining Limited (ASX: NCM) and Resolute Mining Limited (ASX: RSG) will be on watch today after the gold price pulled back from a six-year high due to profit taking. According to CNBC, on Friday the spot gold price fell 0.1% to US$1,426.50 an ounce.

Ramsay Health Care rated as a sell.

The Ramsay Health Care Limited (ASX: RHC) share price will be one to watch today after analysts at Goldman Sachs retained their sell rating and $57.00 price target on the private hospital operator’s shares. According to the note, the broker believes the structural issues impacting the industry will lead to continued price/mix erosion through the mid-term.

Analyst names growth shares as buys.

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James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of WiseTech Global. The Motley Fool Australia owns shares of Altium. The Motley Fool Australia has recommended Ramsay Health Care Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The Motley Fool's purpose is to help the world invest, better. Click here now for your free subscription to Take Stock, The Motley Fool's free investing newsletter. Packed with stock ideas and investing advice, it is essential reading for anyone looking to build and grow their wealth in the years ahead. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson. 2019